Zero Balance Account

Open a Zero Balance Account and consolidate all of your company’s funds into one centralized account.

Many businesses have a general operating checking account, as well as separate accounts for payroll, petty cash and other purposes. We know trying to keep track of all these account takes valuable time away from your business. A Zero Balance Account helps you alleviate having money in too many different locations, allowing you to earn the maximum interest on your money, easing your workload and eliminating mistakes.

Benefits:

Maximizes funds available, as excess funds in the central operating account can be transferred to increase returns and maintain liquidity.

Eases the payment of outstanding loan balances, as they can all be paid from one centralized account.

Minimizes the risk of overdraft fees.

Savings you valuable time and money, as everything is electronic and seamless, thus allowing employees to focus on other business matters.

A Zero Balance Account is a checking account which always maintains a balance of zero. All of your business funds are deposited into one central operating account. Any additional business accounts you may have, such as payroll, petty cash or others will each be a Zero Balance Account and will always maintain a balance of zero in each account.

On a daily basis, the total amount for all checks presented against each ZBA is offset by a debit to the central operating amount.

To ensure accuracy, each transfer from the central operating account to any of the ZBA is cross-referenced by the account number on the bank statement.

Deposits which are accidentally made to any of your zero balance accounts will be automatically transferred to the central operating account.

Learn More About South State Bank

Since 1934, we’ve remained true to our values of relationship banking and commitment to our customers. We’re proud to have grown from serving the needs of one small community to helping businesses and individuals throughout the region. We value personal relationships over financial transactions and are actively involved in the communities we serve. Most importantly, we treat our customers and employees like family. That’s the South State Way.